Foreign countries extort lower prices from US drug-makers for their citizens: Trump

Washington: US President Donald Trump has alleged that foreign countries extort lower prices from US drug-makers for their citizens, as he signed two pieces of legislation into law that aim to inform consumers about drug prices.

Both measures, the Know the Lowest Price Act and the Patient Right to Know Drug Prices Act, aim to end the drug industry's so-called gag orders of pharmacists, which prevent them from discussing cheaper price options with consumers. These price options include discussing whether a medication may be less expensive if using insurance or paying out-of-pocket.

"I have directed my administration to confront the global freeloading of US taxpayers. Foreign countries extort lower prices from US drug-makers for their citizens, subsidized by higher cost prices for American citizens,” Trump said at the White House, without mentioning the names of the nations.

"All research and development and everything is borne by our country, and other countries are not asked to, you know, pick up their fair share," Trump asserted.